Far West

WASHINGTON — Municipal issuer and bond dealer groups support the Municipal Securities Rulemaking Board's proposal to bar underwriters from using the "not reoffered" or "NRO" designation for new bonds without including price or yield information, but have suggested enhancements.

SAN FRANCISCO — Washington lawmakers passed a supplemental budget, finishing a marathon session early Wednesday morning after weeks of deadlock.

The Municipal Securities Rulemaking Board on Tuesday proposed rule changes that would eliminate some duplicative reporting requirements faced by underwriters of new-issue muni securities.

Fitch Ratings revised its outlook for Las Vegas to negative on Monday, affecting $500 million of outstanding bonds and a $19.9 million limited-tax general obligation sale planned for April 20.

The House Committee on Oversight and Government Reform has launched a probe of the California High Speed Rail Authority, asking its board members to preserve all records related to the nearly $4 billion in federal funds approved that, along with a proposed $2.7 billion bond issue, would finance the bullet train along the California coast.

The first criminal trial involving muni market executives accused of bid-rigging is scheduled to begin next week in a federal court in New York City, unless they enter into plea agreements.

The California attorney general's office filed a lawsuit against Orange County last Thursday to prevent the county from diverting money from education in order to balance its budget.

Alaska Railroad Corp.'s $135 million of bonds backed by federal transportation funds have been endangered by recent legislation. That risk prompted Moody's Investors Service to downgrade the debt on Thursday to A2 from A1.

CHICAGO — The Federal Aviation Administration on Thursday granted Chicago's request to preserve its ability to pursue a privatization of Midway Airport under a federal pilot program until the end of the year.

Anschutz Entertainment Group, the developer behind the proposed $1.5 billion Farmers Field project to build a National Football League stadium in downtown Los Angeles and modernize the city' convention center, released a 10,000-page draft environmental impact report Thursday.